The global electric vehicle battery reuse and recycling market was valued at $936 million in 2019 and is estimated to grow at a compound annual growth rate (CAGR) of 43.1% to reach $8.4 billion in 2026.

Over the last decade, the cost of electric vehicle batteries decreased significantly because of technology improvements and mass production. In 2010, the cost of an electric vehicle battery was approximately $1,100 per kWh. By 2020, the price had dropped to roughly $156 per kWh. By 2030, battery prices for electric vehicles are predicted to decline to roughly $60 per kWh.